IC 8-1-4-1 Maturity dates
Sec. 1. It shall be unlawful for the commission to approve the
issue of any stock, certificates of stock, bonds, notes maturing more
than twelve (12) months after the date thereof, or other evidence of
indebtedness, by any public utility except for cash or other property
actually received or to be received therefor by such utility, when the
total amount of such issue, together with the outstanding stock,
bonds, notes maturing more than twelve (12) months from the date
thereof, or other evidence of indebtedness of such public utility, is in
excess of the fair value of the property of such public utility,
including any acquisitions, construction, extensions, additions, and
betterments to such property to be financed in whole or in part by
such issue or the proceeds thereof, as found by the commission.
Provided, however, that any public utility corporation may issue as
may any corporation organized for profit under the laws of the state
of Indiana, its stock, certificates of stock, bonds, notes maturing more
than twelve (12) months from the date thereof, or other evidence of
indebtedness, in an amount not in excess of the value of the property
of such public utility, including acquisitions, construction,
extensions, additions and betterments to such property to be
evidenced in whole or in part by such issues or the proceeds thereof,
as found by the commission, subject, however, to the approval of
such commission as to the character of such issues and the relation
in amount to each other of bonds and stock. (Formerly: Acts 1923, c.65, s.1.) As amended by P.L.23-1988,
SEC.36.
IC 8-1-4-1 Maturity dates
Sec. 1. It shall be unlawful for the commission to approve the
issue of any stock, certificates of stock, bonds, notes maturing more
than twelve (12) months after the date thereof, or other evidence of
indebtedness, by any public utility except for cash or other property
actually received or to be received therefor by such utility, when the
total amount of such issue, together with the outstanding stock,
bonds, notes maturing more than twelve (12) months from the date
thereof, or other evidence of indebtedness of such public utility, is in
excess of the fair value of the property of such public utility,
including any acquisitions, construction, extensions, additions, and
betterments to such property to be financed in whole or in part by
such issue or the proceeds thereof, as found by the commission.
Provided, however, that any public utility corporation may issue as
may any corporation organized for profit under the laws of the state
of Indiana, its stock, certificates of stock, bonds, notes maturing more
than twelve (12) months from the date thereof, or other evidence of
indebtedness, in an amount not in excess of the value of the property
of such public utility, including acquisitions, construction,
extensions, additions and betterments to such property to be
evidenced in whole or in part by such issues or the proceeds thereof,
as found by the commission, subject, however, to the approval of
such commission as to the character of such issues and the relation
in amount to each other of bonds and stock. (Formerly: Acts 1923, c.65, s.1.) As amended by P.L.23-1988,
SEC.36.
IC 8-1-4-1 Maturity dates
Sec. 1. It shall be unlawful for the commission to approve the
issue of any stock, certificates of stock, bonds, notes maturing more
than twelve (12) months after the date thereof, or other evidence of
indebtedness, by any public utility except for cash or other property
actually received or to be received therefor by such utility, when the
total amount of such issue, together with the outstanding stock,
bonds, notes maturing more than twelve (12) months from the date
thereof, or other evidence of indebtedness of such public utility, is in
excess of the fair value of the property of such public utility,
including any acquisitions, construction, extensions, additions, and
betterments to such property to be financed in whole or in part by
such issue or the proceeds thereof, as found by the commission.
Provided, however, that any public utility corporation may issue as
may any corporation organized for profit under the laws of the state
of Indiana, its stock, certificates of stock, bonds, notes maturing more
than twelve (12) months from the date thereof, or other evidence of
indebtedness, in an amount not in excess of the value of the property
of such public utility, including acquisitions, construction,
extensions, additions and betterments to such property to be
evidenced in whole or in part by such issues or the proceeds thereof,
as found by the commission, subject, however, to the approval of
such commission as to the character of such issues and the relation
in amount to each other of bonds and stock. (Formerly: Acts 1923, c.65, s.1.) As amended by P.L.23-1988,
SEC.36.
